07/09/22
In the last year, Innovo’s project finance team has signed a number of large-scale deals with governments in Africa and the Middle East to develop critical and social infrastructure with the support of export credit finance.
Innovo signed a £334 million contract with the Angolan Ministry of Health in January 2022 to develop the country's healthcare infrastructure, and facilitate the financing and construction of three new hospitals, including a burns hospital valued at £160 million.
In May 2022, Innovo signed a £600 million road infrastructure deal in Senegal, to work with the national road management agency Ageroute to deliver 49 roads across the country. The project is financed by UK Export Finance and leading Japanese bank, MUFG, and is part of a government initiative to accelerate social and economic development of rural parts of the country. The project is part of the Senegalese government’s efforts to hasten the social and economic development of rural areas.
Also in May 2022, Innovo celebrated the opening of the Mother & Child Hospital in Camama, Angola. In attendance was the company's managing director Paul Woodman, Angolan President Joao Lourenco, British ambassador to Angola, Roger Stringer, and several other dignitaries.
In June 2022, Innovo signed a £84 million deal to oversee the financing and construction of four garment factories in Aqaba, Jordan. The deal marks the first project in Jordan to be financed by UK Export Finance. Innovo will work with Classic Fashion Apparel, the largest garment manufacturer in the MENA region to ensure the timely completion of the project. The factories will be built in the Aqaba Special Economic zone, a diversified development zone and export base. The deal is expected create over 4000 jobs and help further the Jordanian government’s Economic Modernization vision for 2033 to drive economic growth.